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I have a good credit score but my current situation is I don't have a verifiable income so my bank wont touch me.
What I do have is a contract on the house I currently occupy written by a lawyer between myself and the owner.
The contract is 4 years old and in good standing. The equity I've built between... More making my payments and rehab is about 50% of the home value as is.
The house was in disrepair which is why I got it for below market value. My goal is to finish the rehab on this house so I can move into the basement apt and rent the upper 2 floors as a 3 bed 11/2 bath.
Once complete move on to another house in disrepair keeping each as a rental property.
I'm looking for $25,000 to pay off the remainder left owing on the contract and to finish the rehab.
After the rehab is finished the $25,000 debt will equal approx 30-40% of the market value for the house.
I do the work myself and have plenty of experience in new home construction and old home renovating.
I'm currently in possession of about $6,000 in receipts for material (approx $2000 no receipts) and have before, during and after pictures of my repairs to date.
Ideally I would like a long term multi project partner reaching far into the future but I would consider an investor for the shorter term.
I wont be depending on the apt to be rented to make my payments. Less
Posted 07/03/16